The Week Ahead: Not Quite Making the Grade

By

Christopher Versace

| Oct 27, 2013 | 8:30 PM EDT

Last week, all three major stock market indices climbed higher as corporate earnings season kicked into high gear. On the economic front, we received the September employment report -- originally due for release during the government shutdown -- which reflected only 148,000 jobs created. That's well short of the 183,000 consensus estimate and the 193,000 positions created in August (which was revised up from the prior 169,000). In addition, September's durable orders for core capital goods -- read that as ex-defense and non-aircraft -- fell 1.1%. Particularly large declines registered in orders for machinery, which fell 1.8%; fabricated metals, with a 0.9% decline; and motor vehicles and electrical components, each down 0.3%.

With that in mind, the October interest-rate decision is on tap this week from the Federal Open Market Committee -- but it increasingly looks as if the Fed is likely to delay tapering stimulus for at least a few months. Ahead of that report, we'll get another look at the domestic industrial economy in the form of September industrial production (Monday), October manufacturing data from the Institute for Supply Management (Friday) and Markit's U.S. manufacturing purchasing managers index (also Friday)....1012 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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